A sale registration application associated with an initial mortgage

Description

This service allows the developer to register the sale and mortgage in case of financing in favor of the buyer.


Service Form

Not Applicable


Required Documents

Individuals
1- A copy of the sale and purchase contract
2- A copy of a valid Emirates ID
3- A copy of a valid passport for non-residents
4- A copy of the developer's request (dsr)
Companies (Individual Foundation)
1- A copy of a valid commercial license
2- A copy of the Emirates ID or the passport of the owner of the license
3- Power of attorney, if any

(Limited Liability Companies)
1- A valid copy of the commercial license
2- A copy of the Emirates ID or the passport of the owner of the license
3- Power of attorney, if any
4- A copy of the company’s articles of association and its appendices (translated into Arabic with legal translation)
5- A copy of the shareholders' certificate

A Company Outside The UAE (provided that the names of the shareholders are mentioned)
1- A valid copy of the commercial license
2- A copy of the national ID or passport of the owner of the license
3- Power of attorney, if any
4- A copy of the company’s articles of incorporation and its appendices translated (legal translation into Arabic) and certified by the Ministry of Foreign Affairs
5- No objection letter from free zones in case of purchase, valid for one year
6- A copy of the shareholders' certificate

GCC Company
1- A copy of a valid commercial license
2- A copy of the national ID or passport of the owner of the license
3- Power of attorney, if any
4- A copy of the company’s articles of incorporation and its appendices translated (legal translation into Arabic) and certified by the Ministry of Foreign Affairs
5- A copy of the shareholders' certificate


Service Terms

1- The sale and purchase agreement must be signed by the developer and the buyer
2- In case the buyer is less than the legal age, the sale and purchase agreement must be signed by the guardian and attach a copy of the guardian's passport or identity
3- The sale and purchase agreement must be registered in the initial registry within 90 days from the date of signing the contract
4- In the case of the buyer of the decree-holders, a valid letter from the Federal Authority for Identity and Citizenship must be attached to the Whom It May Concern letter (Is it required to attach an ID of another nationality)
In the case of a company from outside the country, it is necessary to register in the free zones (Dubai Multi Commodities Centre Authority (DMCC) or Jebel Ali Free Zone Authority (JAFZA)


Service Fees

Seller: 2% of the sale value
Buyer: 2% of the sale value
AED 10 Knowledge fees per fee
AED 10 Innovation fees per fee
Ownership fee: AED 250 apartments or villas and land
Map fee: AED 250 for apartments or villas, and AED 100 for lands
Self-registration fees for developers: - (Oqood Portal - Real Estate Developers Portal) for the initial sale
AED 1,000 fee
Mortgage Fee: 0.25% of the mortgage va


Service Procedures

Step 1: Enter Oqood portal and choose the registration of a sale associated with a mortgage service
Step 2: Choose the property, fill in the information, attach the documents and choose the payment method
Step 3: Submit the application electronically
Step 4: Receiving the document through a message on the buyer's e-mail.



Payment Method

Noqodi



Service Channels

Oqood Portal- Real Estate Developers Portal



Issued Documents

A mortgaged initial registration certificate



Service Time

4 working Days

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